Peterson/Jefferson Purchase 03ORIGINAL
AGREEMENT FOR PURCHASE AND SALE AND
ESCROW INSTRUCTIONS
BY AND BETWEEN
DAVID F. PETERSON AND PATRICIA L. PETERSON
("SELLER")
AND
CITY OF LA QUINTA
(6"BUYER")
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TABLE OF CONTENTS
Page
1.
PROPERTY.................................................................:..................................................1
1.1 Improvements.....................................................................................................1
1.2 Fixtures and Personal Property...........................................................................
l
2.
PURCHASE PRICE.........................................................................................................
2
2.1 Amount.................................................................................................................
2
2.2 Payment of Purchase Price................................................................................... 2
3. RELOCATION ASSISTANCE........................................................................................ 2
4. ESCROW..........................................................................................................................2
4.1 Opening of Escrow...............................................................................................
2
4.2 Escrow Instructions..............................................................................................
2
5. TITLE MATTERS............................................................................................................ 2
6.
CLOSE OF ESCROW...................................................................................................... 3
6.1 Close of Escrow; Closing Date............................................................................. 3
6.2 Recordation; Release of Funds and Documents ................................................... 4
7.
DELIVERY OF DOCUMENTS REQUIRED FROM BUYER AND SELLER ............. 4
7.1 Buyer's Obligations.............................................................................................. 4
7.2 Seller's Obligations.............................................................................................. 4
8.
TITLE INSURANCE POLICY........................................................................................ 5
8.1 Title Policy............................................................................................................ 5
8.2 Payment for Title Policy....................................................................................... 5
9. REAL PROPERTY TAXES AND ASSESSMENTS...................................................... 5
10. CONDITIONS PRECEDENT TO CLOSING................................................................. 5
10.1 Conditions Precedent to Buyer's Obligations....................................................... 5
10.2 Conditions Precedent to Seller's Obligations....................................................... 6
11. POSSESSION..................................................................................................................7
12. ALLOCATION OF COSTS............................................................................................. 7
12.1 Buyer's Costs........................................................................................................ 7
12.2 Seller's Costs........................................................................................................ 7
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Page
13. CONDEMNATION..........................................................................................................7
14. HAZARDOUS MATERIALS......................................................................................... 8
15. COVENANTS OF SELLER............................................................................................ 8
16. MISCELLANEOUS.........................................................................................................8
16.1
Assignment...........................................................................................................
9
16.2
Notices..................................................................................................................
9
16.3
Fair Meaning......................................................................................................... 9
16.4
Headings...............................................................................................................
9
16.5
Choice of Laws; Litigation Matters......................................................................
9
16.6
Nonliability of Buyer Officials...........................................................................10
16.7
Gender; Number.................................................................................................10
16.8
Survival...............................................................................................................10
16.9
Time of Essence..................................................................................................10
16.10
Waiver or Modification......................................................................................10
16.11
Broker's Fees......................................................................................................10
16.12
Duplicate Originals.............................................................................................10
16.13
Severability.........................................................................................................10
16.14
Exhibits...............................................................................................................10
16.15
Authority.............................................................................................................11
16.16
Entire Agreement; Amendment..........................................................................11
EXHIBITS
Exhibit A
Legal Description of Property
Exhibit B
Form of Grant Deed
Exhibit C
Form of Affidavit of Non -Foreign Entity
Exhibit D
Bill of Sale
Exhibit E
Escrow Instructions
Exhibit F
Special Escrow Instructions
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AGREEMENT FOR PURCHASE AND SALE
AND ESCROW INSTRUCTIONS
THIS AGREEMENT FOR PURCHASE AND SALE AND ESCROW INSTRUCTIONS
("Agreement") is made and entered into as of October 30, 2003 ("Effective Date") by and
between DAVID F. PETERSON AND PATRICIA L. PETERSON (collectively, the "Seller")
and the CITY OF LA QUINTA, a California municipal corporation ("Buyer").
RECITALS:
A. Seller is the owner of that certain real property located in the City of La Quinta,
County of Riverside, State of California, more particularly described in the legal description
attached hereto as Exhibit "A" (the "Real Property") improved with a residential dwelling (the
"Improvements").
B. Buyer desires to purchase the Property (as that term is defined below) from Seller,
and Seller desires to sell the Property to Buyer, on the terms and conditions set forth herein.
C. On July 29, 2003, Buyer issued an offer letter to Seller pursuant to Government
Code Section 7267.2 in order to acquire the Real Property for purposes of widening Jefferson
Street. Buyer had previously issued its notice of intent to appraise the Real Property and had
caused an appraisal to be prepared in accordance with Government Code Section 7267.1(b).
This Agreement is entered into in accordance with Government Code Section 7267.1(a) lieu of
condemnation proceedings under Code of Civil Procedure Section 1245.210, et seq.
AGREEMENT:
NOW, THEREFORE, in consideration of the foregoing recitals and mutual covenants
herein contained, the parties hereto agree as follows:
1. PROPERTY. Subject to all of the terms, conditions and provisions of this Agreement,
and for the consideration herein set forth, Seller hereby agrees to sell to Buyer and Buyer hereby
agrees to purchase from Seller the Real Property and Seller hereby agrees to sell and Buyer
hereby agrees to buy the following:
1.1 Improvements. Seller's interest in and to the Improvements and all tenements,
hereditaments and appurtenances thereto, subject to the Permitted Exceptions (as that term is
defined in Section 8.1);
1.2 Fixtures and Personal Property. Any and all fixtures and fittings that are attached
to the Real Property and Improvements, all existing electrical, mechanical, lighting, plumbing
and heating fixtures, ceiling fans, fireplace inserts, gas logs and grates, solar systems, built-in
appliances, window and door screens, awnings, shutters, window coverings, attached floor
coverings, television antennas, private integrated telephone systems, air coolers/conditioners,
pool/spa equipment, garage door openers/remote controls, mailbox, in -ground landscaping,
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trees/shrubs, water softeners, water purifiers, and security systems/alarms (collectively, the
"Fixtures and Personal Property").
The Real Property, the Improvements, and the Personal Property are hereinafter
collectively referred to as the "Property."
2. PURCHASE PRICE.
2.1 Amount. The purchase price which Seller agrees to accept and Buyer agrees to
pay for the Property is the sum of TWO HUNDRED FIFTY-FOUR THOUSAND DOLLARS
($254,000.00) ("Purchase Price"). The parties agree that with the exception of relocation
benefits referenced in the Section 3, below, the Purchase Price reflects the full payment that
Seller will receive from Buyer for the Property.
2.2 Payment of Purchase Price. On or before 5:00 p.m. on the business day preceding
the "Closing Date" (as that term is defined in Section 6.1) or such earlier time as required by
"Escrow Holder" in order to close "Escrow" (as those terms are defined in Section 4.1) on the
Closing Date, Buyer shall deposit with Escrow Holder the Purchase Price.
3. RELOCATION ASSISTANCE. In addition to the Purchase Price, Buyer and Seller
agree that Seller shall be entitle to the relocation assistance pursuant to State Relocation
Assistance Law (California Government Code Sections 7260 et seq.; Relocation Assistance and
Real Property Acquisition Guidelines, California Administrative Cove Title 25), in accordance
with the terms and amounts in the relocation benefit letter dated September 29, 2003. Seller
shall be entitled to a Purchase Price Differential of $35,000.
4. ESCROW.
4.1 Opening of Escrow. Closing of the sale of the Property shall take place through
an escrow ("Escrow") to be established within three (3) business days after the execution of this
Agreement by the parties hereto, with Chicago Title ("Escrow Holder") at its office located at
72980 Fred Waring Drive, Suite B, Palm Desert, California, 92260. The opening of the Escrow
(the "Opening of Escrow") shall be deemed to be the date that a fully executed copy of this
Agreement is delivered to the Escrow Holder. Escrow Holder is instructed to notify Buyer and
Seller in writing of the date of the Opening of Escrow.
4.2 Escrow Instructions. This Agreement, once deposited in Escrow, shall constitute
the joint escrow instructions of Buyer and Seller to Escrow Holder. Additionally, if Escrow
Holder so requires, Buyer and Seller agree to execute the form of escrow instructions that
Escrow Holder customarily requires in real property escrows administered by it. In the event of
any conflict or inconsistency between Escrow Holder's standard instructions and the provisions
of this Agreement, the provisions of this Agreement shall supersede and be controlling. The
parties additionally agree to the Escrow Holder's standard terms, a copy of which is attached
hereto as Exhibit E and to the additional supplemental instructions contained in Exhibit F.
5. TITLE MATTERS. Buyer shall obtain a preliminary title report prepared by Chicago
Title ("Title Company") describing the state of title of the Property together with copies of all
underlying documents (collectively, the "Preliminary Title Report"). Buyer may, at its sole cost
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and expense, obtain a current survey of the Property (the "Survey"). Notwithstanding anything
herein to the contrary, Seller shall be obligated to remove all monetary encumbrances against the
Property excluding non -delinquent real property taxes (except as otherwise provided for in
Section 9 below). Buyer shall notify Seller in writing of any objections Buyer may have to title
exceptions contained in the Preliminary Title Report or matters shown on the Survey (if Buyer
has obtained) no later than the date which is fifteen (15) days after the later of (i) its receipt of
the Preliminary Title Report or (ii) its receipt of the Survey ("Buyer's Objection Notice").
Buyer's approval or disapproval of the matters set forth in the Preliminary Title Report (and the
Survey, if applicable) may be granted or withheld in Buyer's sole and absolute discretion.
Buyer's failure to provide Seller with a Buyer's Objection Notice within said period shall
constitute Buyer's approval of all exceptions to title shown on the Preliminary Title Report and
all matters shown on the Survey (if Buyer has obtained). Seller shall have a period of five (5)
days after receipt of Buyer's Objection Notice in which to deliver written notice to Buyer
("Seller's Notice") of Seller's election to either (i) agree to remove the objectionable items on
the Preliminary Title Report or Survey prior to the Close of Escrow, or (ii) decline to remove any
such title exceptions or Survey matters and terminate Escrow and the obligations of Buyer and
Seller to purchase and sell the Property under this Agreement. Seller's failure to provide Buyer
with Seller's Notice within said period shall constitute Seller's election to remove the
objectionable items on the Preliminary Title Report. If Seller notifies Buyer of its election to
terminate rather than remove the objectionable items on the Preliminary Title Report or Survey,
Buyer shall have the right, by written notice delivered to Seller within five (5) days after Buyer's
receipt of Seller's Notice, to agree to accept the Property subject to the objectionable items, in
which event Seller's election to terminate shall be of no effect, and Buyer shall take title at the
Close of Escrow subject to such objectionable items without any adjustment to or credit against
the Purchase Price. All exceptions to title shown on the Preliminary Title Report, other than
those which Seller may agree to remove pursuant to this Section 4.2, shall be deemed to have
been approved by Buyer unless Seller is notified otherwise in writing.
Upon the issuance of any amendment or supplement to the Preliminary Title
Report which adds additional exceptions, including any survey exceptions, the foregoing right of
review and approval shall also apply to said amendment or supplement. The process set forth
above for Buyer's review and Seller's response shall apply to any review and response with
respect to any amendment or supplement to the Preliminary Title Report, and the Closing shall
be extended for such period as is necessary to allow for that review and response process to be
completed.
6. CLOSE OF ESCROW.
6.1 Close of Escrow; Closing Date. Provided that all of the conditions of this
Agreement precedent to the "Close of Escrow" (as hereinafter defined) as set forth in Section 10
below have been satisfied (or waived by the appropriate party) prior to or on the Closing Date,
the Closing of this transaction for the sale and purchase of the Property shall take place on
November 26, 2003 ("Outside Closing Date"). Notwithstanding the foregoing, if Buyer and
Seller agree to advance the Closing, and so long as all of "Buyer's Conditions to Closing" and all
of "Seller's Conditions to Closing" (as those terms are defined in Section 10) have been satisfied
(or waived by the appropriate party), Seller and Buyer may elect to authorize the Closing before
the Outside Closing Date. The terms "Close of Escrow", "Closing Date" and the "Closing" are
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used herein to mean the time Seller's grant deed conveying fee title to the Property to Buyer is
recorded in the Official Records of the Office of the County Recorder of Riverside ("Official
Records"). If Escrow is not in a condition to close by the Outside Closing Date, either party not
then in default hereunder may, upon five (5) days advance written notice to the other party and
Escrow Holder, elect to terminate this Agreement and the Escrow. No such termination shall
release either party then in default from liability for such default. If neither party so elects to
terminate this Agreement and the Escrow, Escrow Holder shall close the Escrow as soon as
possible.
6.2 Recordation: Release of Funds and Documents.
6.2.1 Escrow Holder is directed, on the Closing Date, to record in the Official
Records, the following documents in the order listed: (i) the grant deed (in the form attached
hereto as Exhibit `B") transferring title to the Property to Buyer ("Grant Deed"); and (ii) such
other and further documents as may be directed jointly by Buyer and Seller.
6.2.2 Upon the Closing, Escrow Holder shall deliver (i) the Purchase Price, less
any amount to pay property taxes and/or assessments allocable to Seller pursuant to Section 9,
and (ii) conformed copies of all recorded documents to both Buyer and Seller.
7. DELIVERY OF DOCUMENTS REQUIRED FROM BUYER AND SELLER.
7.1 Buyer's Obligations. Buyer agrees that on or before 5:00 p.m. of the last business
day immediately preceding the Closing Date, Buyer shall deposit or cause to be deposited with
Escrow Holder the following:
(a) the Purchase Price; and
(b) any and all additional funds, instruments or other documents required
from Buyer (executed and acknowledged where appropriate) as may be reasonably necessary in
order for the Escrow Holder to comply with the terms of this Agreement.
7.2 Seller's Obligations. Seller agrees that on or before 5:00 p.m. of the last business
day immediately preceding the Closing Date, Seller shall deposit or cause to be deposited with
Escrow Holder each of the following:
(a) the executed and acknowledged Grant Deed, subject only to the Permitted
Exceptions (defined hereafter);
(b) a Certificate of Non -Foreign Status (the "Non -Foreign Affidavit")
executed and acknowledged by Seller in the form attached hereto as Exhibit "C";
(c) a Bill of Sale (the "Bill of Sale") executed and acknowledged by Seller in
the form attached hereto as Exhibit "D"; and
(d) all other funds, items, and instruments required from Seller (executed and
acknowledged where appropriate) as may be reasonably necessary in order for Escrow Holder to
comply with the provisions of this Agreement.
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8. TITLE INSURANCE POLICY.
8.1 Title Policy. At the Closing Date, the Title Company, as insurer, shall issue a
CLTA owner's standard coverage policy of title insurance ("Title Policy"), in favor of Buyer, as
insured, with liability in the amount of the Purchase Price, subject to the following (the
"Permitted Exceptions"):
(a) non -delinquent real property taxes, subject to Seller's obligations to pay
certain taxes pursuant to Section 9 below;
(b) covenants, conditions, restrictions and reservations of record that do not
interfere with the Buyer's proposed use of the Property, as determined in the sole and absolute
discretion of Buyer;
(c) easements or rights -of -way over the Property for public or quasi -public
utility or public street purposes;
(d) title exceptions approved or deemed approved by Buyer pursuant to
Section 4.2 above;
(e) any other exceptions approved by Buyer; and
(f) the standard printed conditions and exceptions contained in the CLTA
standard owner's policy of title insurance regularly issued by the Title Company.
8.2 Payment for Title Policy. Buyer shall be responsible for the charges for the Title
Policy with coverage up to the amount of the Purchase Price. Buyer shall pay any additional
coverage or endorsements it requests. Buyer may, at its election and expense, request an ALTA
extended policy of title insurance. Buyer shall also pay for the Survey, if applicable.
9. REAL PROPERTY TAXES AND ASSESSMENTS. Upon Buyer's acquisition of fee
title to the Property, the Property will be exempt from the payment of property taxes due to
Buyer's status as a public agency. Seller shall be responsible for paying (through Escrow at
Closing) all real and personal property taxes and assessments which are of record as of the
Closing Date and/or have accrued against the Property prior to (and including) the Closing Date
(notwithstanding whether such taxes and/or assessments are due and payable as of the Closing
Date). Buyer hereby acknowledges and agrees that Buyer will provide the funds necessary to
completely payoff, at Closing, any amounts outstanding under the City of La Quinta Assessment
District 2000-1. Seller shall be responsible for paying for all real or personal property taxes or
assessments assessed against the Property after the Closing for any period prior to the Closing.
10. CONDITIONS PRECEDENT TO CLOSING.
10.1 Conditions Precedent to Buyer's Obligations. The obligations of Buyer under this
Agreement to purchase the Property and close the Escrow shall be subject to the satisfaction or
signed written waiver by Buyer of each and all of the following conditions precedent
(collectively, "Buyer's Conditions to Closing"):
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(a) on the Closing Date, the Title Company shall be irrevocably committed to
issue the Title Policy pursuant to Section 8 above insuring fee title to the Property as being
vested in Buyer, subject only to the Permitted Exceptions;
(b) Escrow Holder holds all instruments and funds required for the Closing
and will deliver to Buyer the instruments and funds, if any, accruing to Buyer pursuant to this
Agreement;
(c) except as otherwise permitted by this Agreement, all representations and
warranties by the Seller in this Agreement shall be true on and as of the Closing Date as though
made at that time and all covenants of Seller pursuant to this Agreement shall have been fulfilled
by the Closing Date;
(d) Seller is not in material default of any term or condition of this
Agreement;
(e) as of the Closing Date, no judicial or administrative challenges have been
presented or filed against: (1) the City's actions in proceeding with the widening of Jefferson
Street; (2) the Addendum certified by the City Council on July 15, 2003, to the Initial
Study/Mitigation Negative Declaration for Jefferson Street Improvements originally certified by
the City of La Quinta on May 18, 1999, State Clearinghouse Number 99031046, or against the
any of the findings made in the Addendum; and
In the event that any of Buyer's Conditions to Closing are not satisfied, deemed satisfied,
or waived in a writing signed by Buyer prior to the expiration of the applicable period for
satisfaction or waiver, Buyer may terminate this Agreement.
10.2 Conditions Precedent to Seller's Obligations. The obligations of Seller under this
Agreement shall be subject to the satisfaction or signed written waiver by Seller of each and all
of the following conditions precedent ("Seller's Conditions to Closing"):
(a) Escrow Holder holds the Purchase Price and all other instruments and
funds required for the Closing and will deliver to Seller the instruments and funds, including but
not limited to the Purchase Price (less Seller's closing costs) accruing to Seller pursuant to this
Agreement;
(b) except as otherwise permitted by this Agreement, all representations and
warranties by the Buyer in this Agreement shall be true on and as of the Closing Date as though
made at that time and all covenants of Buyer pursuant to this Agreement shall have been fulfilled
by the Closing Date; and
(c) Buyer is not in material default of any term or condition of this
Agreement.
In the event that any of Seller's Conditions to Closing are not satisfied, deemed satisfied,
or waived in a writing signed by Seller prior to the expiration of the applicable period for
satisfaction or waiver, Seller may terminate this Agreement.
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11. POSSESSION. After the Close of Escrow, Buyer agrees to allow Seller to remain in
possession of the Property up to and including the earlier of the following dates: (1) April 30,
20041 or (2) the date when Seller surrenders possession of the Property to Buyer. Seller agrees
that on or before that date, Seller shall surrender the Property to the City. Seller's right of
possession under this provision shall not be transferable and may only be utilized by Seller and
Seller's family. Seller shall coordinate the delivery of keys and transfer of possession with the
Public Works Department of the City of La Quinta or its designee. During the holdover period,
Seller shall be responsible for the payment of all utilities, telephone, waters, alarm systems,
gardening services, landscape maintenance and such other charges as those normally paid by a
month -to -month tenant of residential property. Prior to the transfer of possession, Seller shall
coordinate with Buyer as to the cancellation and/or transfer of any ongoing services, such as
utilities. Seller shall take no action which would result in a lien or assessment being recorded
against or imposed upon the Property. Seller may wish to obtain renters insurance and any other
insurance Seller deems necessary to protect Seller's interests and the interests of Seller's family.
Seller understands that Buyer is in no way providing any insurance coverage that would extend
protection to Seller or Seller's family. During the holdover period, the Seller shall maintain the
property in its current condition, normal wear and tear excepted. Seller accepts the Property
during this period in its "AS IS" condition, and Buyer makes no representations or warranties as
to the conditions of the Property. Seller acknowledges that up until the transfer of possession,
Buyer has not inspected the Property and Buyer shall have no liability arising from the condition
or use of the Property during the holdover period. Seller, on behalf of Seller and Seller's family,
hereby waives and releases the Buyer, its employees and agents from any and all liability and
claims for damages, including property damage, bodily injury, or death, which arise the
condition, use, occupancy of the Property during the holdover period. Should any claim be made
against the Buyer, its employees or agents (the "Indemnified Parties") for damages, including
property damage, bodily injury, or death, which arise from the condition, use, or occupancy of
the Property, or occur on the Property, during the holdover period, Seller shall defend and
indemnify the Indemnified Parties and promptly pay any judgment rendered against them.
12. ALLOCATION OF COSTS.
12.1 Buyer's Costs. Buyer shall pay all closing costs associated with this Agreement
and the conveyance of the Property from Seller to Buyer, including any and all escrow and title
fees, recording fees, documentary transfer tax, the premium for the Title Policy (plus any
additional fee for ALTA extended coverage and/or title endorsements requested by Buyer), and
Buyer's own attorney's fees in connection with this Agreement and the transactions
contemplated hereby.
12.2 Seller's Costs. Seller shall pay Seller's own attorney's fees, if any, in connection
with this Agreement and the transactions contemplated hereby.
13. CONDEMNATION. In the event that, prior to the Close of Escrow, any governmental
entity (other than the City) shall commence any proceedings of or leading to eminent domain or
similar type proceedings to take all or any portion of the Property, Buyer or Seller shall promptly
meet and confer in good faith to evaluate the effect of such action on the purposes of this
Agreement.
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14. HAZARDOUS MATERIALS. To the best of Seller's knowledge, the Property has not at
any time been used for the purposes of storing, manufacturing, releasing or dumping Hazardous
Materials. For purposes of this Agreement, the term "Hazardous Materials" shall mean (1)
hazardous wastes, hazardous materials, hazardous substances, hazardous constituents, toxic
substances or related materials, whether solids, liquids or gases, including, but not limited to,
substances deemed as "hazardous wastes," "hazardous materials," "hazardous substances,"
"toxic substances," "pollutants," "contaminants," "radioactive materials," or other similar
designations in, or otherwise subject to regulation under, the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, as amended ("CERCLA"), 42 U.S.C. § 9601
et seq.; the Toxic Substance Control Act ("TSCA"), 15 U.S.C. § 2601 et seq.; the Hazardous
Materials Transportation Act, 49 U.S.C. § 1802; the Resource Conservation and Recovery Act
("RCRA"), 42 U.S.C. § 9601, et seq.; the Clean Water Act ("CWA"), 33 U.S.C. § 1251 et seq.;
the Safe Drinking Water Act, 42 U.S.C. § 300 et seq.; the Clean Air Act ("CAA"), 42 U.S.C. §
7401 et seq.; the Hazardous Waste Control Law, California Health and Safety Code § 25025 et
seq., the Carpenter -Presley -Tanner Hazardous Substance Account Act, California Health and
Safety Code, Division 20, Chapter 6.8, the Hazardous Materials Release Response Plans and
Inventory Act, California Health and Safety Code, Division 20, Chapter 6.95, The Underground
Storage of Hazardous Substances Act, California Health and Safety Code, Division 20, Chapter
6.7, the Porter -Cologne Act, California Water Code § 13050 et seq. and in any permits, licenses,
approvals, plans, rules, regulations or ordinances adopted, or other criteria and guidelines
promulgated pursuant to the preceding laws or other similar federal, state or local laws,
regulations, rules or ordinances now or hereafter in effect relating to environmental matters
(collectively the "Environmental Laws"); and (ii) any other substances, constituents or wastes
subject to any applicable federal, state or local law, regulation, ordinance or common law
doctrine, including any Environmental Law, now or hereafter in effect, including, but not limited
to, (A) petroleum, (B) refined petroleum products, (C) waste oil, (D) waste aviation or motor
vehicle fuel, (E) asbestos, (F) lead in water, paint or elsewhere, (G) radon, (H) polychlorinated
biphenyls (PCB's) and (I) ureaformaldehyde.
15. COVENANTS OF SELLER. Seller agrees that during the period between the Effective
Date of this Agreement and the Closing Date:
(a) Seller shall maintain the Property in not less than the state of repair as that
existing on the Effective Date (excepting ordinary wear and tear);
(b) Seller shall not convey, grant, lease, assign, mortgage, hypothecate, encumber, or
otherwise transfer (on or off record) the Property or any interest therein;
(c) Prior to Closing, Seller shall maintain Seller's existing insurance, if any, on the
Property; and
(d) Prior to the Closing, Seller shall not alter the physical condition of the Property or
introduce or release, or permit the introduction or release, of any Hazardous Materials in, from,
under, or on the Property.
16. MISCELLANEOUS.
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16.1 Assignment. This Agreement shall be binding upon and shall inure to the benefit
of Buyer and Seller and their respective heirs, personal representatives, successors and assigns.
Neither party to this Agreement may assign this Agreement or any interest or right hereunder or
under the Escrow without the prior written consent and approval of the other party, which
consent and approval may be withheld in the sole and absolute discretion of either party. No
provision of this Agreement is intended nor shall in any way be construed to benefit any party
not a signatory hereto or to create a third party beneficiary relationship.
16.2 Notices. All notices under this Agreement shall be effective upon personal
delivery, via facsimile so long as the sender receives confirmation of successful transmission
from the sending machine, or three (3) business days after deposit in the United States mail,
registered, certified, postage fully prepaid and addressed to the respective parties as set forth
below or as to such other address as the parties may from time to time designate in writing:
To Seller: David F. Peterson
Patricia L. Peterson
46115 Jefferson Street
La Quinta, California 92253
To Buyer: City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
Attn: City Manager
Facsimile No.: (760) 777-7101
Copy to: Rutan & Tucker, LLP
611 Anton Boulevard, Suite 1400
Costa Mesa, California 92628-1950
Attn: M. Katherine Jenson, Esq.
Facsimile No.: (714) 546-9035
16.3 Fair Meaning. This Agreement shall be construed according to its fair meaning
and as if prepared by both parties hereto.
16.4 Headings. The headings at the beginning of each numbered Section of this
Agreement are solely for the convenience of the parties hereto and are not a part of this
Agreement.
16.5 Choice of Laws; Litigation Matters. This Agreement shall be governed by the
internal laws of the State of California and any question arising hereunder shall be construed or
determined according to such law. The Municipal and Superior Courts of the State of California
in and for the County of Riverside, or such other appropriate court in such county, shall have
exclusive jurisdiction of any litigation between the parties concerning this Agreement. Service
of process on Buyer shall be made in accordance with California law. Service of process on
Seller shall be made in any manner permitted by California law and shall be effective whether
served inside or outside California.
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16.6 Nonliability of Buyer Officials. No officer, official, member, employee, agent, or
representatives of Buyer shall be liable for any amounts due hereunder, and no judgment or
execution thereon entered in any action hereon shall be personally enforced against any such
officer, official, member, employee, agent, or representative.
16.7 Gender: Number. As used in this Agreement, masculine, feminine, and neuter
gender and the singular or plural number shall be deemed to include the others wherever and
whenever the context so dictates.
16.8 Survival. This Agreement and all covenants to be performed after the Closing,
and, except as otherwise set forth herein, all representations and warranties contained herein,
shall survive the Closing Date and shall remain a binding contract between the parties hereto.
16.9 Time of Essence. Time is of the essence of this Agreement and of each and every
term and provision hereof, it being understood that the parties hereto have specifically negotiated
the dates for the completion of each obligation herein.
16.10 Waiver or Modification. A waiver of a provision hereof, or modification of any
provision herein contained, shall be effective only if said waiver or modification is in writing,
and signed by both Buyer and Seller. No waiver of any breach or default by any party hereto
shall be considered to be a waiver of any breach or default unless expressly provided herein or in
the waiver.
16.11 Broker's Fees. Seller and Buyer represent and warrant to the other that neither
Buyer nor Seller has employed any broker and/or finder to represent its interest in this
transaction. Each party agrees to indemnify and hold the other free and harmless from and
against any and all liability, loss, cost, or expense (including court costs and reasonable
attorney's fees) in any manner connected with a claim asserted by any individual or entity for
any commission or finder's fee in connection with the conveyance of the Property arising out of
agreements by the indemnifying party to pay any commission or finder's fee.
16.12 Duplicate Originals. This Agreement may be executed in any number of
duplicate originals, all of which shall be of equal legal force and effect.
16.13 Severability. If any term, covenant or condition of this Agreement or the
application thereof to any person, entity, or circumstance shall, to any extent, be invalid or
unenforceable, the remainder of this Agreement, or the application of such term, covenant, or
condition to persons, entities, or circumstances other than those as to which it is held invalid or
unenforceable, shall not be affected thereby and each term, covenant or condition of this
Agreement shall be valid and enforceable to the fullest extent permitted by law.
16.14 Exhibits. The following exhibits are attached hereto and incorporated herein by
this reference:
Exhibit "A" Legal Description of Property
Exhibit `B" Grant Deed
Exhibit "C" Non -Foreign Affidavit
Exhibit "D" Bill of Sale
119/015610-0008 -10-
446017.02 AM03
Exhibit "E" Escrow Instructions
Exhibit "F" Special Escrow Instructions
16.15 Authority. The person(s) executing this Agreement on behalf of each of the
parties hereto represent and warrant that (i) such party is duly organized and existing, (ii) they
are duly authorized to execute and deliver this Agreement on behalf of said party, (iii) by so
executing this Agreement such party is formally bound to the provisions of this Agreement, and
(iv) the entering into this Agreement does not violate any provision of any other agreement to
which such party is bound.
16.16 Entire Agreement; Amendment. Except as set forth above, this Agreement and
the exhibits incorporated herein contain the entire agreement of Buyer and Seller with respect to
the matters contained herein, and no prior agreement or understanding pertaining to any such
matter shall be effective for any purpose. No provisions of this Agreement may be amended or
modified in any manner whatsoever except by an agreement in writing signed by duly authorized
officers or representatives of each of the parties hereto.
[END -- SIGNATURE PAGE FOLLOWS]
119/015610-0008
446017.02 AM03 -11-
IN WITNESS WHEREOF, Buyer and Seller each hereby represents that it has read this
Agreement, understands it, and hereby executes this Agreement to be Active as of the day and
year first mitten above,
ATTEST:
June Greer, City Clerk
APPROVED AS TO FORM:
RUTAN & `C, LLP
By-.
M. Katherine Jenson, City Attorney
PATRICIA L_ PE SON
BUYER:
CITY OF LA QUINTA, a California municipal
corporation
By-.
Thomas P= Genovese, City Manager
[Mid of signatures]
11015610001 =12-
i3:01 00/290
IN WITNESS WHEREOF, Buyer and Seller each hereby represents that it has read this
Agreement, understands it, and hereby executes this Agreement to be effective as of the day and
year first written above.
ATTEST:
2hi� '14e:S. &AA�
Ju Greek, City Clerk
APPROVED AS TO FORM:
RUTAN UCKER, LLP
By:
M. Kath 'ne Jenson, C' Attorney
SELLER:
DAVID F. PETERSON
PATRICIA L. PETERSON
BUYER:
CITY OF LA QUINTA, a California municipal
co atio
By:
Thomas P. Genovese, City Manager
[end of signatures]
119/015610-0008
446017.02 AM03 -12-
Chicago Title agrees to act as Escrow Holder in accordance with the terms of this Agreement.
CHICAGO TITLE
By: _
Name:
Its:
119/015610-0008 -13-
446017.02 AM03
EXHIBIT "A"
LEGAL DESCRIPTION OF PROPERTY
The land referred to is situated in the State of California, County of Riverside, City of La
Quinta, and is described as follows:
Lot 20 and the South 35.00 Feet of Lot 19 of Tract 2190, as Shown by Map Recorded in Book
41, Pages 55, 56 and 57 of Maps, Records of Riverside County.
APN: 649-071-011
119/015610-0008
446017.02 AM03
EXHIBIT "B"
FORM OF GRANT DEED
[SEE ATTACHED]
119/015610-0008
446017.02 AM03
RECORDING REQUESTED BY AND
WHEN RECORDED RETURN TO:
CITY OF LA QUINTA
78-495 Calle Tampico
La Quinta, CA 92253
Attn: City Manager
SPACE ABOVE THIS LINE FOR RECORDER'S USE
(Exempt from Recordation Fee per Gov. Code § 6103)
GRANT DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
DAVID F. PETERSON AND PATRICIA L. PETERSON, Husband and Wife, as Joint Tenants,
hereby grant to the CITY OF LA QUINTA, a California municipal corporation, that certain real
property located in the City of La Quinta, County of Riverside, State of California, legally
described on Attachment No. 1, which is attached hereto, and incorporated herein by this
reference, subject to all matters of record.
Dated: 92003
DAVID F. PETERSON
PATRICIA L. PETERSON
119/015610-0008 2
446017.02 AM03
STATE OF CALIFORNIA )
) ss
COUNTY OF )
On , before me,
personally appeared
personally known to me (or proved to me on the basis of satisfactory evidence) to be the
person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s) or the entity upon behalf of which the person(s)
acted, executed the instrument.
Witness my hand and official seal.
Notary Public
[SEAL]
STATE OF CALIFORNIA )
) ss
COUNTY OF )
On , before me,
personally appeared
personally known to me (or proved to me on the basis of satisfactory evidence) to be the
person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s) or the entity upon behalf of which the person(s)
acted, executed the instrument.
Witness my hand and official seal.
Notary Public
[SEAL]
119/015610-0008
446017.02 AM03 '3'
ATTACHMENT NO. 1
LEGAL DESCRIPTION OF PROPERTY
The land referred to is situated in the State of California, County of Riverside, City of La
Quinta, and is described as follows:
Lot 20 and the South 35.00 Feet of Lot 19 of Tract 2190, as Shown by Map Recorded in Book
41, Pages 55, 56 and 57 of Maps, Records of Riverside County.
APN: 649-071-011
119/015610-0008 Attachment 1 to Grant Deed
446017.02 AM03
CERTIFICATE OF ACCEPTANCE
THIS IS TO CERTIFY that the interest in real property conveyed by a Grant Deed dated
from David F. Peterson and Patricia L. Peterson, Husband and Wife, as
Joint Tenants, to the City of La Quinta, a municipal Corporation, ("City") is hereby accepted by
the City by the signature of the undersigned agent on behalf of the City pursuant to the authority
conferred upon him by the Resolution No. , adopted on and that the City,
as the Grantee, by its said duly authorized agent, hereby consents to the recordation thereof.
DATED:
CITY OF LA QUINTA, a Municipal Corporation
By:
Name: Mark Weiss
Assistant City Manager, City of La Quinta
I HEREBY ATTEST to the authenticity of the foregoing signature and to the said adoption of
the said Resolution of his general authority to so act and certify that said authority has not
been revoked by any subsequent Resolution or order of the City.
DATED:
June S. Greek, City Clerk, City of La Quinta
1 W17.02 AM03 Attachment 1 to Grant Deed
446017.02 AM03
EXHIBIT "C"
AFFIDAVIT OF NON -FOREIGN ENTITY
TO: CITY OF LA QUINTA ("Buyer")
The Internal Revenue Code of 1954 ("Code") (26 U.S.C. Sections 1445, 7701) provides that a
transferee of a U.S. real property interest must withhold tax if the transferor is a foreign person.
To inform the transferee that withholding of tax is not required upon transfer of that certain U.S.
real property interest described in Exhibit "A" to the Agreement for Purchase and Sale and
Escrow Instructions dated , 2003, and incorporated herein by reference
("Property"), that the undersigned ("Seller") hereby certifies the following:
1. Seller is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as
those terms are defined in the Internal Revenue Code and Income Tax Regulations); and
2. The U.S. taxpayer identification number for Seller is ; and
3. The address for mailing purposes of Seller is:
and
4. Seller understands that this certification may be disclosed to the Internal Revenue Service
by Buyer and that any false statement contained herein could be punished by fine,
imprisonment, or both.
Under penalty of perjury, I declare that I have examined this Certification and to the best of my
knowledge and belief, it is true, correct, and complete, and I further declare that I have authority
to sign this document on behalf of Seller.
Dated: 52003 SELLER:
DAVID F. PETERSON
PATRICIA L. PETERSON
119/015610-0008
446017.02 AM03
EXHIBIT "D"
BILL OF SALE
DAVID F. PETERSON AND PATRICIA L. PETERSON (collectively, the "Seller"), in
consideration of good and valuable consideration in hand paid by THE CITY OF LA QUINTA
(the "Buyer"), the receipt and sufficiency of which is hereby acknowledged, does by these
presents release, transfer, bargain, sell, assign and convey unto the Buyer, its successors and
assigns, all of the Personal Property as such is defined in that certain Agreement for Purchase
and Sale and Escrow Instructions between Seller and Buyer executed , 2003, as
such may have been amended.
Seller does hereby represent and warrant that all such property is free and clear of all
security interests, liens and encumbrances other than those assumed by Buyer and in good
working order and condition. Seller does hereby covenant with Buyer that it has good right to
sell, transfer, convey and assign all of right, title and interest in the same to Buyer and will
warrant and defend the same in favor of Buyer, its successors and assigns.
IN WITNESS WHEREOF, the Seller has caused these presents to be signed as of this
day of 52003.
SELLER:
DAVID F. PETERSON
PATRICIA L. PETERSON
119/015610-0008
446017.02 AM03
EXHIBIT "E"
ESCROW INSTRUCTIONS
[See Next 2 Pages]
119/015610-0008
446017.02 AM03
GENERAL. PROVISIONS
TO: CHICAGO TITLE COMPANY
E.ecrow Nrr.
OW"
Two to of the essence of susses one. It this asctrow is not in a cotnekdon to lows by raise 11W LWIT DATE awe provided for herein and
written demand for cancetsdbn Is received by you from any pftoCipai to No escrow aster sadd date. you SW act In accordance with pofagraptr
7 of the General Provisions. M no confchng tnslnaotion or der wd for canceiladon is mule, you WRI proceed a doer this $mow when the
prindpok hays oornpNed with ewe aacrow insbuct#ona. in the evert one or moue of the taww* Ro mons are heid to be lovafid, those
remakft wis continue to be operafdva. Any arnandrnenea of at suppierhsto to any insructions affecting secrow must be In wresting. You ate
auf caked to aMw derrtands for, and pay at the dose of escrow any encumbrances nces of record necessary to plawos We of rites oondiwtian collard
fm without furthaa auuguWasdion. You we furdhswr authorized, prior to the loos of escrow, to pay fro l funds an depotdt suit+ fast naecaesaary kt
obtain any demand aced/or report as may be required In this escrow and at the do" of mrow Chu" she path" at appropriate. The
prindpatls wit hand you any funds and Instruments required thorn each mopaatiwly to oornpiets tide escrow. interest on any new Enna ncity
may begin to accrue on the dab loan bAxis/prooseds are disbursed by the now lender, and bormwwru agrees to pay same In accordance wdh
Ienciewr's Irm acdona.
2. You are insoucfsd to datwr and/or record all dooatamanb anon djoburso at hrnda when you can oom* with there kmtnacticos and issue any
tide insurance pok V as csW for herein. These InsbuoWo. tcgethaer with any and and/or suppferthero. may be exa&A d to
counterperda and together :list consftft one and Me satrfat document. if 4hese InaltuWans relms to a sale, and If there Is no other written
agreernia tt bowean Its parties pertaining ihveto, buyer agrees b beery and Weir agrees, to sett upon the recces and c>ondhions hereof, AN
docurnwft. balances and sfaWrnertba dtae the undersigned are to be mailed to ft respective addresses shown herein. wuniers othenw ise
directed. in the event that achy panty to this asorm uWizts face1a re tranwrtitfsd signed doe? mmia. at penes hereby ages to aeccoo and
hsrobv Instruct #m escrow hoddsr to rely upon such dowcunwttast as If 9" boreo9nd signatures. &4W and ssriiaf further adcncw#dgta Oust
any doc utnat s to be recorded basing non original Osmkvdie) aiprtatum wit no4 be accepted for recording by the county recorder.
3. The phrase . of oscnoW for as used in I hk escrow novena ft date on winch down w ttt are recorded, unless otherwiss spactied..
4. Aseamm a 30 day rnoolh in any pro m herein provided. and u nitrite otherwise instructed, you are to use the information contained In the
!onset avaliable tax statornook kip " supplernst M to mw of record, rentai st rlentant as provided by suer and benatCiary'a or
association stalarnents dsiivered Into warow for proration purpOssast.
5. Upon vioese of escrow you Brat inafrucled to etharge our respective aeoourta the costae a bributabis w each, imciudk* but not tPa'rOW t4 costs as
provided feu herein scud/or In a000 anraa whit our mapeeheve sadkrtelsd SUIWWrtttt asttaothed harsto and made a part hereof.
6 Recordation of smy inetrunsrtlwt delivered trough ffdt escrow, d osoommy or proper for the issuance of the poky of Of kwu ra nce canted for.
is au t wizad. No examine ton or inawta om as to tte smow4 or payawit of personal properly taxes is requkW unim speeMkaty requested.
7. if dernand to cancel Is scbcnttted +after the Tama t,in* DOW, any principal to regwsi ft you to cancel 4tss escrow shah file notice of de %rid to
cancel to your once in wrritfrtg. You shall whin +three {ti worktng days tEwsaftar mat by certified rnadi one copy at such notice to each of the
other poncipeis at the address In Otte escrow. Unless wrritc n oe*don theretot is fled in your offim by a principal within Afton (13)
calendar days aster the date of sad+ maciing. you we fnsUvoted to reams; tits secnow, tt risk to a safe escrow. you may rekwn the ar+ow$
papers and/or finch upon lerWer's demand.
S. In rue event thud this escrow k canceled, any lets or dMgaa due Ch po TWO C,arttprny WhAng osehoNfaton teas awed arty ucpanditutes
incurred or autimozed shalt bs paid from funds an deposit unfaat otaarwhe spacificagy agreed to or dowt nine d by a court of con4m tent
junadicdon. tJt w p<rynwr4M thareaf. return dmenerwt and Manzi" to the fas eeofive par4iwa daposedng am*, of as aamkmW by the court, and
void any executed nelrwrherrts. j� . y� y Una
y j ,y.� y / �� TWO
9. N Moms, Is no we O." mc0oKy by a pr� to Mtia wffhin any six-rttonfh pe�iod after the [ na i. mh i� eel foe* herein, Ch
Cathpany oW, at its option, ter rkwtfe &t agency obla"m and c wwW this ascrow, returning at docurns %,monies or ruttier Poorest hold, to
Me respective par6m eettidad tharaw, iewta any lase and duo as provided herein.
10. tf, for any reason, how* we rabdoed or mnsi t in escrow after the ci mft da* you may deduct ihateirm a reasonable dun* as custodian,
of not lass Vlach dig = per n vw ter. unkaeie o1herw1*9 apeofflod.
11, in the avant rued you should reo" at bevorn st awsrwe M cordtieft dernendss or datrttct test respect to qua escrow, of tie nods of array of ire
parties h erelo. at ,any mm" or progeny +tp0ebed ht ego, you andl Jumve wee absokhe right at your op0on so diaow*nuoe any at all halhef Acts
urA such conSet Is reu oNed to your saWacdon.
12. in Me event" any Offer to Purcha so. Deposit P ace4m. or my other form of Purchase /1{ytts NWA is dePoWled in this sac row, you, as escrow
holder. we not to be concerned with the warmest of such dooesnsrd end are rt 0ev ed of act mopastbilelly in connection therewith. The bregaing Is
not apphombis In any transaac*m in which Chiago This has fly eareed to tsocapt an Often to Purchases, Depodt Niceim or other form
of Purcdums, Agreemoni as escrow instruadona; In any +everts. you we not to be concerned or liable Pot kwm gaited as Inn rtwrande in
these escrow invanic<tio ne nor with any ocher agrweernent of oontract batwsen the pard",
13. Tits patrliet he rrefci, by axecuilort of #tees instructions Acknowledge #hat the **crown holder aetwrnes no nespopoibNty or Hablky whatsoever for
ids supwvision of any act or Piss perfommace of any condWon which is a cowry lim suit to Ow closing of No *$Crow.
14. In the absence of kwuucWm to the ocm*wy,, you are hesroby auttatzed to uttize wife services. overnight, next day, or other oxpedhed
defivevy sarvices has opposed to tte regular LM Mail) and to charge to respecM patty's wacccuutt,ttauarnrtr *,
15. Concerning arty mW prepaAy invofved in fiats tranasoloh, you +crest mWased from and ehwdt haw no'NabiNty. oblgadon or responsIbift with
reaper# to tij withht Wit of iu xle purauato to Sepiop 1445 of 00 tills om! uses Code of Blair as tathetdred, and to 500110rue tftw and
IBM of the CANIornea Arvenue and Taxation Code. (b) advising the as to the mquirsowals of said Section 1445, iaj dekrmk*V
whethat the than sfarowr Is a forawtgn person or a than-resideot under such Section. nor (d) obtoiniv to non foreign &NWSvtt Of OVW +wtxemption
from wW*okNm wxW said Ssctionss nor otmnrsat wwrurddrtg any wgp*y concerning ommq sme with auch Sections by any party to the
brautsaction.
163 if you pay a demand to pay to fuel a rev *AAA tints of aredlt of squityl 0 loan, you aye hereby khetructod an my Ww# and for my benafit, so
rst<queu that +Its dander ksukq said demand osamW said revaivirg Yoe of sgcntyli ne of crad t.
17. You we au*wksd to furnish to my afMW* of Chicago TW* CornpoW, troy a morney, broker or tender icMurstW*d wf#h this tsransecdoo of any
one as *% on behalf of such tender any Wormattions. Instructions, wvwwkrwdk sfatwowhts, of notfoes of asaceiatton gkoo n In connoot'non with
#f escrow. M any check sunbmilled to escrow is diahortorod when presertt d for payrnerls, you ere ahulhodad to no* at principak ,rwW/*t
their respective agenttet Of Such non payrrw m.
18 AM mottoes. dhrarrgste of VoWmadons, eamnutoicaftes and documents are to be deilvered in writing to the of m of Chiasgo TWO Company, as
met forth herein.
carer•, .tiot22tra. 1W. (Cloth)
GENERAL PROVISIONS
(Continued)
TO: CHICAGO TITLE COMPANY
Eac" info.
Dab
19, Alf funds mosivad in this *wow suet be depmrkad wkh other *sago* funds in ores or awe norr4orsat bswkV demand 0000unfa of CWMW
T�ftwwG`anWy in ogre{ stem yor f*cWW tw* at VW sUft or_%dWWW ai pt &W Sam as y,.i�t.. o {�^�o depaeftfy nsfitutloyns�"� WW rosy Im
tra Sao rod to air ath Smah �. Pw p Ri MAC Oscm � �e *0 #me accom M do " bow inlw". of
#W" NO *#w bw*Wq falatfflftf>ftl * with d ►p"tMy liW4trlCtM , Ofi W Pk *MP" Wend fks WKW" may MOW front atsma Of the
doposhwy &tts*uttonra an array of b*M&V owvkxw, ummodoftm of aaw bwoft, ChkVo Tits COmprarty and No *M&tes a#so may
stsot to afsW kelp o#w busWm trtw"vNana wills or obtain OUM for ptvest wnt or o#w purpose from some of Ors depository mark 00m,
m suds asarri m. ttc+porttrrt►odariotta and odw bw*fise shah aamm. directly of kdkocAy, b Chicago Tft Carttpany and tts stNfifttsa and dray
shad has no abigat m Its tit 14 *0 pWOW to able eaotow fot Mta V609 of such saty m, of olhw b*rWft. !NI
cNsburesrmonts shsfi bo made by Cf+ cagc Tt" Companydw4k, w"n otharvaias kwVucW.
Tide Cart>pwW dtait etef bar rsaponsibla fw wty daWy in tl"OM M f mcefvad by tM sae>mw ate not ava#abla fox k mmadiata
wfthdrawaf. Chk ago Tills Cort>FwW may, at ks option. raqukr oommsnt insir; adorts from as principals prim to rrtsass of any funds on
doposk In this *wow.
20 You we arrNwdnd to destroy or otharwlsa dispose of any and di doamno fit, p"ws, hwVw tior46 oott+atpottdancs grid ogler matsri d
pasta AkV b""Omw at #* axpirsdort of six 0 ysM #roan # a do" ol aaorow or cw oaalon Owsof, wiitwut bWAffy and whhout h~
ngtic*.
IMPORTANT NOTICE
t tot wirs Irmwfsrs, fund► rismm ed so fft * 090fow ass aubjad to avaNab ty wpk* t w t knpomW by Sec* n 124W of th* CaNiomfa
kueunmm God.. CASHtFAIN CMWED or TELLERS chaclts, pates to CHICAGO TITLE COMPANY am malty aw0able for
dk*ursatmsM on tlta naxt bu*sm day Wawft #ta d % of d*pcM.
Odw kwms of paymssrt may cause axwndod do" In 9* daaft of vow irua safiors pwomm 10 the mquimmeMs kr wwd by Stow Law.
(are urwmdw f<stotnaaion wao" won mqu 4
ALL PARTIES TO THIS ESCROW ACKWM.EDGE THAT C HICAGO TRLE COMPANY GOES HOT PROVIDE
LEGAL ADVICE NOR HAS IT MADE ANY INVESTIGATION, REPRESENTATIONS OR ASSWW40ES
WHATSOEVER REGARDING THE LEGAL ASPECTS OR COMPLIANCE OF THIS TRANSACTION WITH ANY
TAX. SECURMES OR ANY OTHER STATE OR FEDERAL LAWS, IT IS RECOMMENDED THAT THE PARTIES
OBTAIN INDEPENDENT LEGAL. COUNSEL AS TO SUCH MATTERS.
THE FOREGOING ESCROW INSTRUCTIONS AND GENERAL PROVISIONS HAVE BEEN READ AND ARE
UNDERSTOOD AND AGREED TO BY EACH OF THE UNDERSIGNED.
CITY OF LA QUINTA
A ChLI FORXIA K NI CI PA.L CORPORATION
THOMAS P. GENOVESE, CITY MIANAGER
saws m
EXHIBIT "F"
SPECIAL ESCROW INSTRUCTIONS
PRORATIONS AND/OR ADJUSTMENTS:
Escrow Holder is authorized and instructed to prorate and/or make adjustments on the
following items as of the close of escrow date:
TAXES ON REAL PROPERTY:
Prorate taxes, including all tax bill items, except taxes on personal property not conveyed
through this escrow, based on the current year's taxes, except between July 1" and the date you
are furnished current taxes (approximately November 1 S), based on immediate preceding year's
taxes. In each case use the figures furnished you by the title company, without liability on your
part as to their correctness. Owner to pay prior to delinquency, supplemental tax bills, and any
taxes on personal property not being sold herein, which taxes are a lien on the real property being
conveyed and you are not to be concerned herewith.
Refund, if any, from the Riverside County Tax Collector, for refund of taxes buyer is
being debited for herein, is to be handled outside of escrow. Chicago Title Company, its officers
and employees are relieved of all responsibility and liability in connection therewith.
119/015610-0008
446017.02 AM03